Inflation Rate 2024 Forecast. However, fed officials have repeatedly cautioned. The annual inflation rate in india soared to 6.21% in october of 2024 from 5.49% in the previous month, well above market expectations of 5.81% to mark the highest inflation rate in over one year.

The reserve bank of india has maintained its inflation forecast at 4.5% for this fiscal year, despite concerns over rising food and oil prices. The baseline forecast is for growth to fall from 3.4 percent in 2022 to 2.8 percent in 2023, before settling at 3.0 percent in 2024.